we are only 10% of the way there. But we are in luck, while it took 80 years before the government broke the first boundaries when it attacked the Confederacy, it then took another 30 years before the government made its next power grab with constitutional amendments for income taxes and popular vote for senators. Then 20 years for the next assault on liberty with FDR. Ever since it has been an ever decreasing period of time between assaults on our freedom. So, the luck is that it will only take about 4 to 8 years before it finishes off that last 90%.

“This has tremendous implications for future of American business and bankruptcy precedent,” he said. “It means more than just GM—this is the rule of law and how creditors are treated in the United States legal system.”

Didn’t the bailout already mistreat a lot of creditors and dealership owners? I guess some are more important than others.